If an oligopolist is naïve, and therefore expect rivals not to respond if it chooses to cut its price,
a. It could start a price war
b. It would be more likely to cut prices than an oligopolist that expected rivals to react if it cut its prices.
c. It would be less likely to cut prices than an oligopolist that expected rivals to react if it cut its prices.
d. Both a. and b. are true
d
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Which of the following is true?
a. The size of the national debt currently is about the same size as it was during World War II. b. The national debt increases in size whenever the federal government has a surplus budget. c. The national debt's size decreased steadily after 1980. d. The current U.S. national debt is over $16.0 trillion.
In Macronesia, the MPC is approximately .80 . If disposable income changes from 1,000 billion pukas to 1,500 billion pukas, then consumption will change by a(n)
a. decrease of 500 billion pukas. b. increase of 500 billion pukas. c. increase of 400 billion pukas. d. increase of 800 billion pukas.
Which group does not benefit from trade when the U.S. imports leather?
A. Workers in the foreign leather industry. B. U.S. consumers who purchase leather products. C. Foreign leather producers. D. Workers in the U.S. leather industry.
A movement along the Phillips curve shows that the unemployment rate and inflation rate are
A. Changing in response to supply-side policy. B. Changing in response to shifts in aggregate supply. C. Inversely related to each other. D. Directly related to each other.